Stamp duty on ETFs abolished #AS2013

clock

Stamp duty on shares bought in Exchange Traded Funds (ETFs) is to be abolished in a bid to encourage more firms to domicile products in the UK.

Providers currently pay 0.5% tax on shares purchased. In March's Budget, Chancellor George Osborne (pictured) announced stamp duty on AIM shares would also be abolished. Law firm Pinsent Masons partner in the financial regulation team Monica Gogna said: "It is heartening to hear the Chancellor's move to support the financial services sector demonstrated by the move to abolish stamp duty for Exchange Traded Funds. "This is surely another sign that the ETF industry in Europe is set to grow and compete with the much larger ETF sector in the USA. "

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on ETFs

Partner Insight: Vanguard European ETF flows summary - August inflows fall

Partner Insight: Vanguard European ETF flows summary - August inflows fall

Read Vanguard's latest monthly summary of flows in the European ETF market.

Vanguard
clock 02 October 2023 • 10 min read
Partner Insight: Vanguard - in times of volatility, low-cost index investing still shines

Partner Insight: Vanguard - in times of volatility, low-cost index investing still shines

Our latest research shows that, for most investors, their best chance of maximising returns over the long term lies in minimising costs by investing in low-cost index funds and ETFs that track their market benchmarks

Stephen Lawrence - Head of Indexing Research, Vanguard Investment Strategy Group
clock 01 August 2023 • 6 min read
Industry Voice: The growth potential of climate change — is it worth the investment?

Industry Voice: The growth potential of climate change — is it worth the investment?

Geopolitics has pushed the issue of energy security up the agenda over the past year, compounding an ever-growing consensus for the need to transition away from fossil fuels and towards renewables. Watch the video podcast to learn more.

Sarka Halas
clock 19 June 2023 • 2 min read